NEW YORK, NY / ACCESSWIRE / February 25, 2022 / Focus Financial Partners Inc.. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that Azimuth Capital Management ("Azimuth Capital"), a registered investment adviser (RIA) headquartered in Bloomfield Hills, Michigan, has entered into an agreement to join the Focus partnership. The transaction is expected to close in the second quarter of 2022, subject to customary closing conditions.
Founded in 2004 by Ted Haddad, Janet Hewlett, Daniel McEnroe and Paul Ragheb, Azimuth Capital is a prominent independent wealth management firm that serves ultra-high net worth and high net worth families and individuals, and endowments and other institutions. Since its founding, Azimuth Capital has become well known for its hands-on investment management expertise and the close, collaborative way in which it works with its clients to help them achieve their financial goals.
"We are excited to be partnering with Focus," said Ted Haddad, Senior Managing Director and Co-Founder. "We were drawn to the Focus partnership because Focus values and protects the entrepreneurial spirit of RIAs while also offering the resources to help us further enhance our client service and continue to grow our business. This partnership will position us for the next phase of our growth through access to a robust suite of tools and services. We believe that becoming part of the large and diverse group of firms in the Focus partnership will yield many benefits for our clients and our business in the years to come."
"We are very pleased to welcome the Azimuth team to Focus," said Rudy Adolf, Founder, Chairman and CEO of Focus. "Azimuth Capital is an outstanding wealth and investment manager with a strong track record of growth and is well positioned to expand its presence. Our scale advantages, permanent capital and extensive resources will assist Azimuth Capital in further accelerating the growth of its business. Our ability to offer our partner firms sophisticated tools and solutions to meet the evolving needs of their clients enables our partners to consistently expand and deepen their relationships with their clients."
Cambridge International Partners LLC served as the exclusive financial advisor to Azimuth Capital, and Warner Norcross + Judd LLP served as legal counsel to Azimuth Capital.
About Focus Financial Partners Inc.
Focus Financial Partners Inc. is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while they benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus, please visit www.focusfinancialpartners.com.
About Azimuth Capital Management LLC
Azimuth Capital Management LLC is a registered investment adviser headquartered in Bloomfield Hills, Michigan. The firm provides comprehensive wealth management services to high net worth individuals and families, foundations, endowments, and other institutions. For more information about Azimuth Capital, please visit www.azimuthcap.com.
Cautionary Note Concerning Forward-Looking Statements
This release contains certain forward-looking statements that reflect Focus' current views with respect to certain current and future events. These forward-looking statements are and will be, subject to many risks, uncertainties and factors relating to Focus' operations and business environment, including, without limitation, uncertainty surrounding the current COVID-19 pandemic, which may cause future events to be materially different from these forward-looking statements or anything implied therein. Any forward-looking statements in this release are based upon information available to Focus on the date of this release. Focus does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could affect Focus may be found in Focus' filings with the Securities and Exchange Commission.
Investor and Media Contacts
Tina Madon
Senior Vice President
Head of Investor Relations & Corporate Communications
Focus Financial Partners
P: +1-646-813-2909
[email protected]
Charlie Arestia
Vice President
Investor Relations & Corporate Communications
Focus Financial Partners
P: +1-646-560-3999
[email protected]
SOURCE: Focus Financial Partners